14. Finances

Section 1 — Before each fiscal year starts, the board will prepare and approve an annual budget of estimated income and expenditures for the club.

Section 2 — The treasurer deposits club funds in a financial institution or institutions designated by the board, divided into separate accounts for club operations and for service projects.

Section 3 — Bills are paid by the treasurer or another authorized officer and must be approved by one other signing officer. Signing officers are those directors registered as such with the financial institutions of Section 2.

Section 4 — A qualified person will conduct a thorough annual review of all financial transactions.

Section 5 — Club members will receive an annual financial statement of the club. A mid-year financial report, with current and previous year income and expenses, will be presented at the Annual General Meeting.

Section 6 — The fiscal year is from 1 July to 30 June.

Section 7 — All expenditures must be in keeping with the annual budget approved by the board, unless otherwise authorized by the board. Committees and other units or members designated by the board may authorize, by simple majority vote, expenditures within their assigned budget and in keeping with any other limits set by the board.

Adopted June 10, 2025